Shares of DarioHealth (NASDAQ: DRIO) dropped 22% in morning trade after the company released the pricing of an underwritten public offering of 1,450,000 shares of its common stock at a public offering price of $3.10 per share. Gross proceeds from the offering, before deducting underwriting discounts and commissions and other estimated offering expenses, are expected to be approximately $4.5 million. Dario intends to use the net proceeds toward commercialization efforts of its products and for general working capital purposes. Subject to customary closing conditions, the offering is expected to close on April 5, 2017.
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About DarioHealth Corp.
DarioHealth Corp. is a global digital health company serving tens of thousands of users with dynamic mobile health solutions. The company believes people deserve the best tools to manage their treatment, and harnessing big data, it has developed a unique way for its users to analyze and personalize their diabetes management. With DarioHealth’s smart diabetes solution, users have direct access to track and monitor all facets of diabetes, without having the disease slow them down. The acclaimed Dario™ Blood Glucose Monitoring System all-in-one blood glucose meter and native smartphone app gives users an unrivaled method for self-diabetes management. DarioHealth is headquartered in Caesarea, Israel with a regional office in Burlington, Massachusetts. For more information, visit www.mydario.investorroom.com.
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